PPP Loan Data — Spartan Warehouse And Distribution Company Incorporated, Columbus, OH
Spartan Warehouse And Distribution Company Incorporated is a corporation located at 4140 Lockbourne Rd in Columbus, Ohio that received a Coronavirus-related PPP loan from the SBA of $2,468,070.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:WesBanco Bank, Inc.
Spartan Warehouse And Distribution Company Incorporated in Columbus, OH received a Paycheck Protection Loan of $2.47M through WesBanco Bank, Inc., which was approved in April, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Spartan Warehouse And Distribution Company Incorporated's 2019 payroll expenses are estimated to be at least $11.85M.
Based on their reported 340 jobs retained, this equals an estimated average yearly compensation of $34,843 per employee1
Reported PPP Proceed Usage:
On the PPP application, Spartan Warehouse And Distribution Company Incorporated reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,468,070
Business Information - Spartan Warehouse And Distribution Company Incorporated in Columbus, OH
4140 Lockbourne Rd
Columbus, OH 43207
General Warehousing and Storage
NAICS code 493110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Columbus
In the Columbus area, 3 businesses in the "General Warehousing and Storage" industry received a PPP loan. These local businesses reported an average of 153 employees (compared to this company's 340) and received an average PPP loan of $1,416,940 (compared to this company's $2.47M).
Similar Nearby Businesses Who Received PPP Funding:
Lizard Leasing Inc
Dist-Trans Co LLC
Industry PPP Comparison Statistics
Nationwide, 4,995 businesses in the "General Warehousing and Storage" industry received a total of $771.67M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 17 employees, 95% lower than Spartan Warehouse And Distribution Company Incorporated's reported 340 employees, and received an average PPP loan of $154,488, 94% lower than this company's loan of $2.47M.
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Footnotes & Information
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